# U.S. GOVERNMENT STANDARD GENERAL LEDGER (USSGL)

**VOTING BALLOT #15-01**

The USSGL staff  will present Voting Ballot #15-01 at the May 14, 2015, USSGL Board meeting.  Please indicate the agency’s vote by marking “yes” or “no” on the voting ballot for each proposal to revise the USSGL. Provide a detailed justification for all “no” votes. Fax page 1 and any attachments containing comments or justifications for negative votes to 202-874-7232 or vote via Survey Monkey. The Survey Monkey link will be provided to the voting USSGL IRC board members.  Fiscal Service must receive the agency’s votes by close of business May 28 , 2015.

Revisions: 

**Fiscal Year 2015**

**ADD:CHANGE:**

320700  Pg. 2 Yes____  No____

**DELETE:                                          NON-TECHNICAL CHANGE**(DOES NOT REQUIRE A VOTE):

**Fiscal Year 2016**

**ADD:CHANGE:**

214200  Pg. 2 Yes____  No____214100  Pg. 3 Yes____  No____

113500  Pg. 4 Yes____  No____251100  Pg. 5 Yes____  No____

135100  Pg. 5 Yes____  No____619000  Pg. 5 Yes____  No____

750000  Pg. 6 Yes____  No____

**DELETE:**

**NON-TECHNICAL CHANGE**(DOES NOT REQUIRE A VOTE ****

Name: ______________________________________________

Agency: _____________________________________________

Date: _____________________________

**The following proposed USSGL accounts will be effective for fiscal 2015 reporting.**

**The following proposed USSGL accounts will be effective for fiscal 2016 reporting.**

**PROPOSED USSGL ACCOUNTS**

**Account Title:**           Accrued Interest Payable - Debt 

**Account Numbe**r:     214200 

**Normal Balance:**      Credit 

**Definition:** The amount of interest accrued and owed to agencies that is the result of securities issued by the Bureau of the Fiscal Service, Federal Financing Bank and agencies with Authority to Issue Securities. This account does not close at yearend. 

***Justification:***Under the current environment accrued interest payable by federal agencies on borrowings and accrued interest payable by Bureau of Fiscal Service on agency investments fall under the same reciprocal category (RC 02) with no distinction between the two.  The accrued interest payable by agencies on borrowings is comingled with accrued interest payable on investments by Treasury and FFB creating an Intragovernmental reporting issue.   The creation of this new USSGL and the renaming of USSGL 214100 will enable these two unique accrued interest payables to be reported separately.

**PROPOSED CHANGES TO CURRENT USSGL ACCOUNTS FOR FISCAL 2016**

***Proposed Account Title:           Accrued Interest Payable - Loans***

***Account Number:     214100***

***Normal Balance:      Credit***

***Proposed Definition: The amount of interest accrued and owed to others that is the result of loans issued under general and special financing authority. This does not include accrued interest payable on  securities issued by the Bureau of the Fiscal Service, Federal Financing Bank and agencies with authority to issue securities, which should be reported in USSGL account 214200. This account does not close at yearend.***

**The following proposed USSGL accounts will be effective for fiscal 2016 reporting.**

**PROPOSED USSGL ACCOUNTS**

**Account Title:** Funds Held by the Public – Non-Budgetary

**Account Number**: 113500

**Normal Balance:** Debit

**Definition:** The amount of funds held by the public that the Office of Management and Budget has determined will not be included in the Budget of the United States Government. This account does not close at yearend.

***Justification:***During the initial reporting periods where agencies started using the Governmentwide Treasury Account Symbol Adjusted Trial Balance System (GTAS) it was discovered that agencies that had Funds Held Outside of Treasury (FHOT) that are non-budgetary didn’t have a USSGL account that they were able to use so that they can record their FHOT non-budgetary in order to pass GTAS edit 5 - Funds Held Outside of Treasury Business Line Balances.

**PROPOSED CHANGES TO CURRENT USSGL ACCOUNTS FOR FISCAL 2016**

**Current Account Title:**Funds Held by the Public 

**Proposed Account Title:Funds Held by the Public - Budgetary**

**Account Number:**113000

**Normal Balance:**Debit

**Account Title:**          Capitalized Loan Interest Receivable - Non-Credit Reform 

**Account Number:**     135100 

**Normal Balance:**      Debit 

**Definition:** The amount of accrued interest due on a non-credit reform loan that has been capitalized. Capitalized interest, like loan principal, is subject to interest charges until such time as the debt is paid or otherwise settled. Also used to record the related receivable resulting from the accretion of the original issue discount for Black Lung Disability Trust Fund Obligations.  This account does not close at yearend. 

***Justification:***Update definition to clarify its use for the Black Lung Disability Trust Fund Obligations

**Account Title:**         Capitalized Loan Interest Payable - Non-Credit Reform 

**Account Number:**    251100 

**Normal Balance:**      Credit 

**Definition:** The amount of accrued interest owed on a non-credit reform loan that has been capitalized. Capitalized interest, like loan principal, is subject to interest charges until such time as the debt is paid or otherwise settled. Also used to record the related payable resulting from the accretion of the original issue discount for Black Lung Disability Trust Fund Obligations. This account does not close at yearend. 

***Justification:***Update definition to clarify its use for the Black Lung Disability Trust Fund Obligations

Account Title:           Contra Bad Debt Expense - Incurred for Others 

Account Number:     619000 

Normal Balance:      Credit 

Definition: The amount of bad debt expense related to accounts receivable held for others. 

***Justification:****Removing specific Federal/Non-Federal Code attribute domain value use instructions from the definition. Users can find specific instructions related to this Attribute in the TFM 2-4700.*

Account Title:           Distribution of Income - Dividend 

Account Number:     750000 

Normal Balance:      Debit 

Definition: Distribution of income such as interest on capital and franchise taxes.  

***Justification:****Removing specific Federal/Non-Federal Code attribute domain value use instructions from the definition. Users can find specific instructions related to this Attribute in the TFM 2-4700.*

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IRC Handout                                                                                                    May 7, 2015

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IRC Handout                                                                                                     May 7, 2015